Two New Construction Transactions updated lending guidelines

The Credit Union Service Organization is actively seeking ground up construction, rehab and conversion lending opportunities for example Hotels converted to Assisted Living or Condos to Multifamily!  The CUSO will consider Multi-family, Office, Retail, Industrial, Hospitality and Built to Suit for both investor and owner users properties nationwide. Many business owners are utilizing the CUSO in lieu of the SBA 504/7A to avoid red tape with longer fixed rate terms, no Pre-payment penalty options and quicker turnaround times which are offered through our credit union network. The leverage is typically 75% to 80%LTV/LTC, 5 and 10 year terms, 20-30 amortizations, full recourse and No Prepayment Penalty.  Pricing is typically based on a
spread over the Prime Rate and varies with project type and location. We recently funded Two New Construction Projects:
Pham and Nguyen dba League City Dry Cleaners League City, Texas  $1,450,000 -80% LTC -5 year term -6% Interest -25 year amortization  La Quinta Inn & Suites Jourdanton, Texas -$3,200,000 - 80% LTC- 5.5% interest- 5 Year Term- 25 Year Amorization

We’re excited to be the exclusive facilitators for several new and old investors entering into the commercial lending market.  You will never experience the horrors of a commitment not being honored with our team. We never charge any upfront fees.   Besides the CUSO, we offer local boutique and national life / institutional investors/CMBS with usually non- recourse debt on all property types/classes nationwide.  For our clients seeking bridge loans for properties that are not stabilized, discounted notes, quick closes etc.; we are the most experienced in the industry in this very active but tricky lending arena.  We actually work with real check writers.  We warn all of our borrowers to watch out! Many are impostors in this market that will only take your upfront money with no results. Unlike other lending groups, we offer quick and reliable feedback to all our clients with competitive rates and successful closings.  Our Company remains the most adaptable and capable in the industry to guide our borrowers through the ‘New Normalcy” Call or email us with any questions. Our team is here to assist you with your commercial financing needs.

 

 

Below please see highlights of some of our programs:

 

Credit Union Syndication-   $33 BILLION TO LEND

Nationwide – All Property Types – A to C Classes – Loan Amounts: $1 million to $20 Million - up 80% Leverage in some markets even for non-investment grade properties- Cash Out Available  - Rates start at 3.99% to 6.50% -flexible  terms available- up to 30 year amortization -Full Recourse (Partial Recourse case by case) - No Replacement Reserves- 1.20 DSCR (based on in-place rents) -Escrow for TI/ Rehab- Flexible Underwriting- NO Pre-payment Penalty-45 to 60 Day Closings- If you have found that you no longer have a banking relationship, longer flexible terms , higher Leverages, longer amortizations or NO Pre-payment Options, the Credit Union Syndication program is the perfect fit.  We will entertain properties or property owners that have skewed global scope ratios, property types/class issues, geographical concerns, low liquidity, and lease up status and lower physical and/or economic occupancy concerns.  We have the alternative solution. The CUSO is actively funding loans to build their portfolios and relationships.  They offer traditional make sense underwriting that has not been seen in this market for quite some time.  OUR NETWORK WANTS TO MAKE LOANS! We can guide through the maze of Credit Union lending.

New Investor catering to veterans- Nationwide– All Property Types – A to C Classes – Loan Amounts: $1 million to $10 Million - up 80% Leverage in some markets even for investment properties- Cash Out Available  - Rates start at 4.75% to 6.50% -5, 7 and 10 year terms - up to 30 year amortization -Full Recourse – No Pre-payment penalty -60 Day Closings

Non-Fannie Mae Multi Family Programs: Nationwide - All Classes- Loan Amounts:  minimum loan $1 million plus - up to 80% Leverage- Cash Out Available -Rates start at 3.37%- floating, 5, 7, 10 and 15 year terms- up to 30 year Amortization- No Replacement Reserves – Minimum Occupancy 80% (pricing adjustment may apply) - Non, Partial and Full Recourse Contingent on Property Class, Geography, Leverage and Sponsorship Restrictions- NO Pre-payment Penalty options available- 45-60 day closings

Small Balance   Commercial Real Estate Loan Programs: Nationwide- All Property types- A to C Classes- Loan Amounts: $1 million  to $5 million --up to 80% Leverage -Cash Out Available- Rates start at 4.32% -5, 7, and 10 year terms -up to 30 year amortization- 1.20 DSCR- Minimum occupancy 80%- -Full, Partial and Non-Recourse (Case by Case) -Flexible Pre-payment Penalty Options available.  NEW: Non-Recourse  available for all  property types located in the Eastern United States –up to  75% Leverage- Cash Out Available- Rates Start at 4.99%- 5, 7 and 10 year terms – up to 25 year amortization- Declining Prepayment Penalty

STNL/ NN & NNN Financing- Investment and Non-Investment Grade:Nationwide- All Property Types- New Construction-  up to 80% (select markets only) Leverage- Rates priced over the Swaps, Treasuries, and Libor starting at 4.25%-5, 7, 10, 15 and 20 Year Terms -up to 30 year amortization- Flexible Pre-Payment Penalty Options available -(Non- recourse available)

Non-Recourse: Money Available! -  We are on the pulse of this rapidly changing market.  Through our local and national Life Companies, CMBS, REITS and Institution Investors, we offer many market specific capital for all property types nationwide.  A-B Classes Preferred – Minimum Loan Amount $3 Million and up- Single Borrowers with multiple transactions will be acceptable to meet the minimum loan limits requirement. Leverage up 80% - Competitive swap based pricing and interest only loans are available. There’s NO “fixed pricing “per se.  Loan specific
factors such as LTV, amortization, term, debt yield, asset type, location, DSCR and asset quality etc. will determine final pricing. Floating, 5, 7, 10, 15 and 20 year terms - -up to 30 year amortization – Assumable -60 day executions. Now’s the time to buy or refinance!

Bridge Investors who are Really Funding; Nationwide - All Property Types -A to D Classes - All Scenarios considered- Minimum Loan Amount: $1 million plus- up to 80% LTC/LTV -Rates start at 6% -14% Interest- only – 1-3 year terms- 1.5 to 4 points –3 Week Closings – WARNING -We are the most experienced Commercial Bankers in the industry at placing debt in the bridge /hard money lending arena. We have fully screened investors with CASH with established exclusive relationships easing any doubts a client might have about a successful solution for their temporary borrowing needs.  We protect our clients from those predators in the market looking to take money upfront. Don’t waste your time with the imposters.  Call us first, second or third for our opinion before signing or sending any money. We'll check with our list that’s REAL and has references. We’re here to help!

Call us anytime at 866-732-5626 or cell 713-858-5556  kkirk@eleanorfinancial.com www.eleanorfinancial.com

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